Data-Driven Analysis of Cryptocurrency Markets, Kaiko

Kaiko

Data-Driven Analysis of Cryptocurrency Markets

Kaiko is the leading cryptocurrency market data provider for institutional investors and enterprises. We empower market participants with accurate, transparent, and actionable financial data to be leveraged for a range of market activities. Kaiko’s mission is to be the foundation of the new digital finance economy by serving as a single source for market information. Our mission is premised on the idea that high-quality data drives market efficiency and greater transparency throughout the industry. For each of our enterprise clients, we build custom data plans designed for a range of use cases.

Crypto

<ul><li>Stablecoins are systemically important in cryptocurrency markets, so even the slightest depeg can cause mass market contagion.</li><li>As such, it is concerning that stablecoins have been particularly volatile since the start of 2023</li><li>TUSD wobbled amid Prime Trust's closure, USDT depegged due to mysterious selling activity, BUSD has been increasingly volatile since Paxos halted issuance, and USDC crashed during the March banking crisis.</li></ul>

Stablecoins are systemically important in cryptocurrency markets, so even the slightest depeg can cause mass market contagion.As such, it is concerning that stablecoins have been particularly volatile since the start of 2023TUSD wobbled amid Prime Trust's closure, USDT depegged due to mysterious selling activity, BUSD has been increasingly volatile since Paxos halted issuance, and USDC crashed during the March banking crisis.

<ul>
<li>While CeFi liquidity has been on a gradual decline this year, which will be the main focus of this article, DeFi is facing a liquidity crisis of sorts in the last few days as one of the most liquid pools in the space becomes heavily imbalanced, so we’ll start there.</li>
<li>After the latest round of fears surrounding Tether, the 3pool moved to a weight of 75% Tether in the last day, as users rushed out of crypto’s largest stablecoin at once.</li>
<li>This resulted in Tether depegging to a price of $0.996. This is the most imbalanced the Curve pool has been this year.</li>
</ul>


While CeFi liquidity has been on a gradual decline this year, which will be the main focus of this article, DeFi is facing a liquidity crisis of sorts in the last few days as one of the most liquid pools in the space becomes heavily imbalanced, so we’ll start there.
After the latest round of fears surrounding Tether, the 3pool moved to a weight of 75% Tether in the last day, as users rushed out of crypto’s largest stablecoin at once.
This resulted in Tether depegging to a price of $0.996. This is the most imbalanced the Curve pool has been this year.


<ul><li>Binance.US is bleeding. One week after the SEC lawsuit, market makers and traders have fled the exchange en masse.</li><li>Liquidity, as measured by aggregated market depth for 17 tokens on the exchange, has fallen nearly 80% over the past week.</li><li>On June 4, the day before the SEC lawsuit, market depth was $34mn. Today, market depth is just $7mn.</li></ul>

Binance.US is bleeding. One week after the SEC lawsuit, market makers and traders have fled the exchange en masse.Liquidity, as measured by aggregated market depth for 17 tokens on the exchange, has fallen nearly 80% over the past week.On June 4, the day before the SEC lawsuit, market depth was $34mn. Today, market depth is just $7mn.

<ul><li>Last week, Binance announced that it would restrict trading of privacy tokens for users in France, Italy, Poland, and Spain starting June 26.</li><li>This follows similar de-listings by Huobi, OkCoin, Bithumb, and Upbit.</li><li>As the name suggests, privacy tokens are designed to allow users to transact anonymously, rather than pseudonymously.</li></ul>

Last week, Binance announced that it would restrict trading of privacy tokens for users in France, Italy, Poland, and Spain starting June 26.This follows similar de-listings by Huobi, OkCoin, Bithumb, and Upbit.As the name suggests, privacy tokens are designed to allow users to transact anonymously, rather than pseudonymously.

<ul><li>Ever since the March banking crisis, crypto trade volume and prices have been in the doldrums, with no strong movements in either direction.</li><li>Over the weekend, daily volume dropped to multi-year lows.</li><li>Yet, amid the lull, Tether’s market cap is quickly approaching a new all time high, with the total supply currently at $82.9 billion.</li></ul>

Ever since the March banking crisis, crypto trade volume and prices have been in the doldrums, with no strong movements in either direction.Over the weekend, daily volume dropped to multi-year lows.Yet, amid the lull, Tether’s market cap is quickly approaching a new all time high, with the total supply currently at $82.9 billion.

Why Is Tether's Market Cap Approaching ATH?

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Tether (USDT CURNCY)

The State of Stablecoins

Stablecoins are systemically important in cryptocurrency markets, so even the slightest depeg can cause mass market contagion.

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Q2 Crypto Liquidity Update

While CeFi liquidity has been on a gradual decline this year, which will be the main focus of this article, DeFi is facing a liquidity crisis of...

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Market Makers Flee Binance.US

Liquidity, as measured by aggregated market depth for 17 tokens on the exchange, has fallen nearly 80% over the past week.

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The Fraught Future of Privacy Tokens

Last week, Binance announced that it would restrict trading of privacy tokens for users in France, Italy, Poland, and Spain starting June 26. This...

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Why Is Tether's Market Cap Approaching ATH?

Ever since the March banking crisis, crypto trade volume and prices have been in the doldrums, with no strong movements in either direction.

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Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)